Over the years, cybercriminals have managed to steal over 15 billion credentials from unsuspecting internet users, including online business owners. Unfortunately, with these credentials, cybercriminals have invaded company secrets, bank accounts, health records, and other important information, rendering individuals and businesses powerless.
Thankfully, you can enhance your business’s cyber security systems through a multi-factor authentication setup and protect your business from malicious attacks. This article dives deep into this robust technology and explains the importance of multi-factor authentication systems for your business.
What is Multi-Factor Authentication?
Multi-factor authentication (MFA) is a security system that employs two or more factors to complete authorization and allow access. Email service providers like Gmail are popular for taking up the 2-Factor authentication method that requires a password and an email/phone code.
The primary goal in using multi-factor authentication is to provide multiple layers of security so that an attacker is stopped before getting your information. These layers include:
- What you know – All passwords fall in this layer as you are expected to know the password in order to gain access. However, this layer alone is not enough because an attacker can access it through attack methods like phishing.
- What you have – This secondary layer of protection requires you to enter a code sent to your device or account. For example, you can receive a unique code, or One-Time Pin (OTP) sent to your email or SMS, which you must provide before accessing your online enterprise.
- Who you are – On this layer, you’ll require to use biometrics like fingerprints or facial recognition to gain access. Other methods include iris scan, earlobe geometry, hand geometry, voice authentication, and digital signature scanners.
With a robust cyber security system like multi-factor authentication, you can protect your business from cyber-attacks like credential stuffing, phishing, key loggers, and brute force attacks. All these focus on stealing credentials like log-in passwords and usernames, which they use to access an organization’s database.
Why Should You Use Multi-Factor Authentication?
The reality of increased cyber attacks on organizations in the corporate world has led to the adoption of multi-factor authentication security systems in order to boost security. Even though MFA’s security is not absolutely foolproof, it goes a long way to reduce the risks.
Today, MFA is considered the most reliable cyber security system as it is able to counter the most common threats in cyberspace. It protects high-value systems, emails, and accounts and limits how cyber attackers use the credentials they steal from their victims.
Here are some of the reasons you should set up multi-factor authentication systems for your business.
It boosts your system’s security
As mentioned earlier, MFA adds multiple layers of protection to the existing password. Therefore, an attacker trying to access your database is stopped when they are required to scan their fingerprint or provide a unique code sent to the phone or email.
For example, if a key logger cybercriminal steals all the passwords entered into a system, they may not access your system if MFA is activated. This is because they’ll be required to provide other forms of identification before accessing the system.
With MFA, additional security like phone and email codes are used only once, while other biometric identification methods are not recordable or downloadable. Therefore MFA renders the attacker’s efforts vain as they cannot access the targeted enterprise.
MFA boosts user experience
It’s always recommended to use long passwords (at least eight characters) and combine the letters with numbers and symbols, as well as capital and small letters. Also, it’s safer to use a different password for every account so that an attacker doesn’t get through your other account in case they get one of your passwords.
However, this method is hectic and quite a headache to most people because of the long passwords and other adjustments to it. Not forgetting how troublesome passwords resets can be.
On the other hand, MFA requires a new pin every time, and it’s sent to your phone or your email. You’ll only need to enter it at the designated space. For an even faster experience, MFA uses biometrics like fingerprint scanning or facial recognition to give you access instantly.
Therefore, organizations are able to choose one that works best with their security models, and their IT teams can integrate it into their applications.
MFA adapts easily to the changes in the organizations
As organizations grow, the complexity of access requests from the growing number of users may weaken the security protocols in the organization. Also, in most cases, the organizations may allow employees to work on multiple devices and in different locations, which can threaten security.
However, using adaptive MFA ensures that all access requests are safe by evaluating the amount of risk a user is exposed to and verifying their identity. This includes checking their location, the device they are using, the safety of their internet.
For example, suppose the user requests access into the organization from the company’s offices, using the company’s internet and a familiar device. In that case, the access is granted without too much verification. However, the authentication process will be thorough if the same user attempts to sign in 100 miles away through an unsecured internet and an unfamiliar device.
This means that the MFA system is able to identify changes in location, internet security, and the device and therefore acts vigorously to protect the organization from any attack attempts.
Multi-Factor Authentication Provided By Veltec Networks
Veltec Networks has an elite team of IT experts who offer active defense systems against cyber-attacks to your organization. Not only will we offer you the best multi-factor authentication systems, but we also educate you on how to effectively use them and have a response plan to keep you ready for any incidence.
The goal is to completely eliminate cyber attacks on your business or at least reduce the risks to the minimum. If you are looking for a cyber-security partner to safeguard your assets and protect your data, Veltec Networks is the go-to solution.
Need help? Be sure to engage with Veltec Networks for all your Bay Area business cybersecurity needs.